HomeMy WebLinkAbout(0178) TA Reinvestment Zone 90_Ernst Ordinance.Renewal (2).PDFORDINANCE NO.
AN ORDINANCE RENEWING TAX ABATEMENT
REINVESTMENT ZONE NUMBER NINETY, CITY OF FORT
WORTH, TEXAS; PROVIDING THE EFFECTIVE AND
EXPIRATION DATES FOR THE ZONE, AS RENEWED, AND A
MECHANISM FOR ADDITIONAL RENEWALS OF THE ZONE;
AND CONTAINING OTHER MATTERS RELATED TO THE
ZONE.
WHEREAS, on May 19, 2015 the City Council adopted Ordinance No. 21757-05-
2015 designating Tax Abatement Reinvestment Zone Number Ninety, City of Fort Worth,
Texas, a reinvestment zone created pursuant to and in accordance with the Property
Redevelopment and Tax Abatement Act, codified in Chapter 312 of the Texas Tax Code
(the "Zone"); and
WHEREAS, the Zone encompasses the area in the City more specifically
described in Exhibit "A" of this Ordinance; and
WHEREAS, the Zone has been utilized as a valuable and successful economic
development tool for the City, enabling an investment by Winner, LLC of over $300
million in the Zone to date for operation of multiple data centers on behalf of Facebook,
Inc., as reflected in two Tax Abatement Agreements between the City and Winner, LLC
(City Secretary Contract No. 46727, as amended, and City Secretary Contract No. 52160),
as supported by an Economic Development Program Agreement (City Secretary Contract
No 46728); and
WHEREAS, pursuant to Section 3 of Ordinance No. 21757-05-2015, the term of
the Zone commenced May 19, 2015 and will expire May 18, 2020, unless renewed by the
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Ordinance Renewing Tax Abatement Reinvestment Zone Number Ninety,
City of Fort Worth, Texas
City Council for one or more subsequent terms of five (5) years or less, as authorized by
Section 312.203 of the Texas Tax Code; and
WHEREAS, in order to encourage additional significant investment and job
creation in the Zone, the City Council wishes to renew the Zone for an additional term of
five (5) years beyond its original expiration date; and
WHEREAS, on May 5, 2020 the City Council held a public hearing regarding
renewal of the Zone, received information concerning development in the Zone during the
initial term of the Zone, and afforded a reasonable opportunity for all interested persons to
speak and present evidence for or against the creation of the Zone ("Public Hearing");
and
WHEREAS, notice of the Public Hearing was published in a newspaper of general
circulation in the City on April , 2020, and delivered in writing not later than the seventh
day before the date of the Public Hearing to the presiding officer of the governing body of
each taxing unit that includes in its boundaries real property that is located in the Zone; and
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS:
Section 1.
FINDINGS.
That after reviewing all information before it regarding renewal of the Zone and
after conducting the Public Hearing and affording a reasonable opportunity for all
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Ordinance Renewing Tax Abatement Reinvestment Zone Number Ninety,
City of Fort Worth, Texas
interested persons to speak and present evidence for or against renewal of the Zone, the
City Council hereby makes the following findings of fact:
1.1. The statements and facts set forth in the recitals of this Ordinance are true and
correct.
1.2. The improvements constructed to date in the Zone, as more specifically outlined in
the Public Hearing, have provided significant benefit to the Zone as well as the
City, and will continue to do so for a period in excess of ten (10) years from the
initial effective date of the Zone, and additional similar investment in the future
will likewise benefit the Zone and the City.
1.3. As a result of renewal of the Zone, the area within the Zone is reasonably likely to
contribute to the continued expansion of primary employment and to attract major
investment in the Zone that will be a benefit to property in the Zone and will
contribute to the economic development of the City.
Section 2.
RENEWAL OF ZONE.
That the Zone is hereby renewed effective May 19, 2020 and shall expire five (5)
years thereafter. The Zone may additionally be renewed by the City Council for one or
more subsequent terms of five (5) years or less.
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Ordinance Renewing Tax Abatement Reinvestment Zone Number Ninety,
City of Fort Worth, Texas
Section 3.
SEVERABILITY.
That if any portion, section or part of a section of this Ordinance is subsequently
declared invalid, inoperative or void for any reason by a court of competent jurisdiction,
the remaining portions, sections or parts of sections of this Ordinance shall be and remain
in full force and effect and shall not in any way be impaired or affected by such decision,
opinion or judgment.
Section 4.
IMMEDIATE EFFECT.
That this Ordinance shall take effect upon its adoption.
ADOPTED AND EFFECTIVE: May 5, 2020
APPROVED AS TO FORM AND LEGALITY:
By:
Peter Vaky
Deputy City Attorney
M&C:
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Ordinance Renewing Tax Abatement Reinvestment Zone Number Ninety,
City of Fort Worth, Texas
EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE